Treasury issues P255.4 billion in retail bonds

ABS-CBN News

Posted at Dec 04 2017 01:31 PM

MANILA - The Bureau of Treasury said it would issue on Monday P255.4 billion in retail bonds, as demand exceeded the original P30 billion offer.

The Treasury said it sold P130 billion on retail treasury bonds or RTBs during auction and an additional P125.4 billion during the public offer from Nov. 20 to 27.

"The overwhelmingly positive response from the public shows that an increasing number of Filipinos are saving and investing, as well as considering the long-term benefits of investments for themselves and their loved ones," National Treasurer Rosalia de Leon said in a statement.

"The benefits of RTBs are multi-fold. These instruments help achieve financial stability for individuals and families, and, at the same time, these allow ordinary Filipinos to profoundly contribute to nation-building," she said.

The bond sale benefited from added liquidity during the Christmas season as some buyers saw them as holiday gifts, De Leon said.

It was the 20th time that the national government issued bonds targeting retail or small investors.

Finance Secretary Carlos Dominguez said last week that the government was on track to issue dollar bonds at the start of 2018, while the maiden issue of yuan-denominated debt or panda bonds was pushed back to the first quarter, pending approval from Chinese authorities.